Fuel Tech(US:FTEK)2025-08-05 20:31Revenue Performance - Revenues for the three-month period ending June 30, 2025, were $5,558 million, a decrease of $1,484 million or 21% compared to the same period in 2024[86] - The APC technology segment generated revenues of $2,505 million for the three-month period ended June 30, 2025, representing a decrease of $1,444 million or 37% from the prior year[87] - The FUEL CHEM technology segment generated revenues of $8,132 million for the six-month period ended June 30, 2025, an increase of $2,400 million or 42% compared to the same period in 2024[88] Profitability Metrics - Consolidated gross margin percentage for the three-month periods ended June 30, 2025, was 46%, up from 42% in 2024[89] - Selling, general and administrative expenses (SG&A) for the three-month period ended June 30, 2025, were $3,347 million, with SG&A as a percentage of revenues increasing to 60% from 46%[92] - Research and development expenses were $490 million for the three-month period ended June 30, 2025, compared to $422 million in 2024[94] Financial Position - Cash and cash equivalents as of June 30, 2025, totaled $10,589 million, with working capital of $25,685 million[98] - The consolidated APC backlog at June 30, 2025, was $7,811 million, an increase from $6,175 million at December 31, 2024[87] - The company had outstanding standby letters of credit totaling approximately $2,923 million as of June 30, 2025[107] Capital Expenditures - The company expects additional capital expenditures in 2025 for the DGI business and maintenance of field equipment, funded by cash from operations[105]